TechFlow reported on October 17 that Yellow Card, Africa's leading cryptocurrency platform, announced the completion of a $33 million Series C round of financing led by Blockchain Capital. This round of financing brings Yellow Card's total financing to at least $88 million.

Founded in 2019, Yellow Card initially focused on providing cryptocurrency and stablecoin services to retail customers in 20 countries in Africa. However, the company has recently shifted its focus to B2B business. Chris Maurice, CEO of Yellow Card, said that the company currently serves about 30,000 businesses, helping them with payments and financial management, mainly through stablecoins.

This round of financing also attracted investors such as Polychain Capital, Block Inc., and Winklevoss Capital. Yellow Card plans to use the funds to develop new products, strengthen team and system construction, and continue to communicate with regulators in African countries. Maurice believes that African regulators have a higher level of understanding and innovation in encryption technology than other regions, creating a relatively friendly environment for the development of the industry.